Volatility looms as election season heats up. Fortify your portfolio against autumn market shocks

Stocks roared higher in a delayed relief rally on Thursday, following the Federal Reserve's jumbo-sized interest rate cut Wednesday, but rocky times may be ahead – and investors will want to prepare for that volatility. Excitement over the central bank's half-point rate cut lifted the S & P 500 over the 5,700 threshold for the first time ever on Thursday. However, Goldman Sachs warns that investors should buckle up for a potential bumpy ride in the market.

Bulk up on bonds Even as the Fed has lowered rates, bonds are still offering attractive yields – "more so than they did in the prior 10 years when rates were near zero," Hasan said. And they've been a good buy for clients who are nearing retirement, seeking income and appreciate bonds' ability to offset stocks' volatility. For higher-income clients, she likes municipal bonds, which offer tax-exempt income on a federal level.

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